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updated: 2/4/2014 7:42 AM

Heidrick & Struggles names new CEO

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Associated Press

Executive search firm Heidrick & Struggles International Inc. said Monday that it named Tracy Wolstencroft as its president and chief executive officer.

Wolstencroft, 55, also joined Heidrick's board. He replaces Jory Marino, the company's interim CEO, who will remain with the company in a leadership role. Wolstencroft previously spent 25 years at Goldman, Sachs & Co., serving as a partner from 1994 to 2010.

Heidrick said in July that it no longer was pursuing a sale of its business and that its CEO, L. Kevin Kelly, had stepped down after seven years in that role.

Its shares fell 6 cents to $16.62 in morning trading Monday. Its shares are up just over 1 percent versus a year ago.

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